THE ROLE OF COORPORATIVE SOCIETIES AND THE NIGERIA ECONOMY. (A case study of cooperative societies)
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ABSTRACT
This study was carried out to examine the role of cooperative societies and the Nigeria economy using cooperative societies in Oredo local government area of Edo State as a case study. Specifically, the study aimed at identifying the principles and economic importance of cooperative societies in Oredo Local Government Area of Edo State, defined and trace the origin of cooperative societies in Oredo Local Government Area of Edo State, recognize the different types of cooperative societies in Oredo Local Government Area of Edo State, and recognize the constraints and the possible solutions of cooperative societies in Oredo Local Government Area of Edo State. A total of 120 responses were validated from the survey. From the responses obtained and analysed, the findings revealed that lack of proper education has significant on co-operative societies in Nigeria, Co-operatives societies have significant effect on the economic development of Nigeria, Co-operatives societies helps the lower income earners in saving money, Mismanagement of resources by the management committee has significant effect on the co-operative societies in Oredo local government area. The study recommend that to effectively operate in the local government area of Oredo local government area of Edo state, the co-operative societies should learn to understand the languages used by the people of Oredo local government area of Edo State. Also, the co-operative societies should endeavour to assist in giving out loans to the lower income earners in the community so as to enable them engage in one or two businesses.
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